Powerpoint Templates THE BALANCED SCORECARD APPROACH BY SUMAYYA QUADRI
WHAT IS BALANCED SCORECARD? The Balanced Scorecard is a strategic planning and management system used to align business activites to the vision and strategy of the organization by monitoring perfomance against strategic goals
It is not a tool you can just think up one night to solve a problem. Instead, it is recommended that you hold a meeting to plan out what goals you would like to see your company reach in each of the four above areas.
while the balanced scorecard gives you an overall view of the four areas for concern in business growth and development, these four areas do not paint the whole picture. The financial information included on the scorecard is limited. Instead, to be successfully implemented, the balanced scorecard must be part of a bigger strategy for company growth
many companies use metrics that are not applicable to their own situation. It is vitally important when using balanced scorecards to make the information being tracked applicable to your needs. Otherwise, the metrics will be meaningless.